What exactly is cryptocurrency?

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Cryptocurrency is the name given to any type of digital coin that is developed through coding. Crypto coins can never assume a physical form, but rather only exist in the online space where they can be bought, sold, spent and transferred.

They can be used as an exchange for various kinds of goods, activities and services.

Certain types of cryptocurrency such as Bitcoin and Ethereum are becoming more and more popular at a truly impressive pace. The number and variety of businesses and companies that allow clients to pay with cryptocurrency are growing exponentially.

They include the sectors of vehicles, housing, retail and food.

The main advantages of cryptocurrencies over traditional money are encryption, decentralization, speed, security and usability. It’s no wonder that more and more people are becoming interested in using crypto coins for their purchases.

Cryptocurrency in online gambling

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The online gambling industry was one of the earliest main adopters of cryptocurrencies. The use of Bitcoin or other crypto coins provides online players with a broader selection of banking methods to choose from, including deposits and withdrawals.

Some of our top picks for the best gambling sites with casino games that allow you to play with cryptocurrency and that you can access from the United States include Bovada, Bet Online, Sports Betting, Slots.LV and GT Bets.

When it comes to sports betting, our main recommendations to gamble with crypto coins include the sites: Bovada, Bet Online, Sports Betting and My Bookie.

Popular types of cryptocurrency

Bitcoin

Bitcoin is the first type of crypto coin ever created and unarguably the most famous and used one. This specific cryptocurrency was released in the year 2009 for the public to buy.

Ever since then, the growth and popularity of the Bitcoin have been simply unstoppable. It reigns supreme over the other cryptocurrencies in terms of market share.

Ethereum

Ethereum is relatively new in the industry of cryptocurrencies, having been released in 2015. However, it has undoubtedly left its mark already.

And considering that it was only launched four years ago, it is truly remarkable that it has managed to quickly rise to the number two spot of the most popular crypto coins.

Litecoin

Litecoin was created by a Google employee and launched in 2011. One of the top advantages of Litecoin is that it has an even faster payment processing time than the Bitcoin.